FinnovateAsia is a one-day event in Hong Kong (HK) hosted by the Finovate Group, Inc to showcase the thriving FinTech industry in HK. The event is part of a weeklong FinTech conference hosted by InvestHK, which is a department of the HK government responsible for Foreign Direct Investment (FDI). Both HK FinTech Week and FinnovateAsia show that Hong Kong is promising to be an increasingly FinTech hub as the government facilitates the gathering of such companies. Hong Kong has seen a growth of 38% in the number of FinTech startups establishing their business in the area.
I’m not surprised that Hong Kong is a new FinTech hub, as it has always been a center for financial services. As a child of immigrant parents from Hong Kong, I have spent much time in the Central district, which is the main business district. Some of Hong Kong’s most recognizable buildings are the two razor shaped skyscrapers called the International Finance Centres One and Two. Both house a vast number of offices and headquarters, as does the entirety of Central. Investment banking is also huge in Hong Kong, providing more opportunities for merging technology and financial services.
Sources: FinovateAsia, HK FinTech Week Videos, InvestHK